trending Market Intelligence /marketintelligence/en/news-insights/trending/yEmtzhu5701W9WNB-DpNNg2 content esgSubNav
In This List

Bankruptcy court confirms Southcross Holdings' reorganization plan

Blog

Funding Social and Affordable Housing: A Credit Perspective

Blog

Global Capital Markets & SPAC Activity – H1 2021

Blog

Over 150 state-level energy-related measures enacted during Q2'21

Blog

Insight Weekly: Earnings learnings; Duke Energy hits back; PE activity surges


Bankruptcy court confirms Southcross Holdings' reorganization plan

on April 13 saidit has successfully emerged from bankruptcyprotection after a federal court confirmed its pre-packaged plan ofreorganization April 11.

The plan ofreorganization eliminated almost $700 million of funded debt and preferred equityobligations and added a new equity investment from certain equity holders.

The partnershipbegan voluntary cases under Chapter 11 in the U.S. Bankruptcy Court for the SouthernDistrict of Texas on March 27. SouthcrossEnergy Partners LP and Southcross Energy Partners GP LLC were not includedin the proceedings.

"The speedof our successful financial restructuring is a true credit to our entire team andreflects the continued support of our owners and lenders," said John Bonn,president and CEO of Southcross Holdings. "This allows us to move forward witha much stronger financial foundation and an enhanced ability to grow and expandour business in the current market environment."